SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Jun 25, 2021

2. SEC Identification Number

152747

3. BIR Tax Identification No.

000-153-790-000

4. Exact name of issuer as specified in its charter

Ayala Land, Inc.

5. Province, country or other jurisdiction of incorporation

Makati City, Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

31F Tower One and Exchange Plaza, Ayala Triangle, Ayala Avenue, Makati City Postal Code 1226

8. Issuer's telephone number, including area code

+632 7908 3111

9. Former name or former address, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA


Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares	14,700,395,599
Preferred Shares	13,066,494,759

11. Indicate the item numbers reported herein

Item 9 - Other Matters

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Ayala Land, Inc.ALI

PSE Disclosure Form REIT-1 - Reinvestment Plan
References: Rule 4 of the IRR of the REIT Act of 2009 and
Sections 4 and 8 of the Amended PSE Listing Rules for REITS

Report Date	Jun 26, 2021

InitialFiling
Amend

Amendment No.:	1

Items amended by Filing
In view of the COVID-19 pandemic, the different community quarantines and government restrictions on movement of persons and business operations however, Ayala Land was constrained to re-prioritize its projects and developments in order to maximize its expenditures. From the original plan of 16 projects, the revised Plan now covers 31 income-generating projects of Ayala Land. Pertinent changes are outlined below. Evo City Retail was removed subject to a change in development plans. Disbursements to the 11 projects listed below was reduced by P6.8 billion due to changes in development schedules as a results of market conditions. 1. One Ayala Mall and Office (considered as 2 projects in the original Plan) 2. Trinoma Common Station Connections 3. Ayala Malls Vermosa 4. Arca South Office 5. Seda One Ayala 6. Seda Manila Bay 7. The Flats Circuit 8. The Flats CITP 9. The Flats CBP 10. ALogis Binan 4 (named LTI Standard Factory Building in the original Plan) 11. Lepanto Redevelopment The P6.8 billion will now be disbursed to 17 new identified projects namely: 1. ALogis Artico Binan 2. ALogis Naic 2 3. ALogis Porac Expansion 4. Industrial Park 5. Park Central Towers 6. West Gallery Place 7. East Gallery place 8. Park Triangle Residences 9. Veranda Tower 1 10. AT Abreeza Tower 1 11. AT Verge Tower 1 12. Laguna Development 13. Cavite Development 14. Laguna Development 15. Land Acquisition 16. Land Acquisition 17. Land Acquisition

Items amended by Filing

In view of the COVID-19 pandemic, the different community quarantines and government restrictions on movement of persons and business operations however, Ayala Land was constrained to re-prioritize its projects and developments in order to maximize its expenditures. From the original plan of 16 projects, the revised Plan now covers 31 income-generating projects of Ayala Land. Pertinent changes are outlined below.

Evo City Retail was removed subject to a change in development plans.

Disbursements to the 11 projects listed below was reduced by P6.8 billion due to changes in development schedules as a results of market conditions.

1. One Ayala Mall and Office (considered as 2 projects in the original Plan)
2. Trinoma Common Station Connections
3. Ayala Malls Vermosa
4. Arca South Office
5. Seda One Ayala
6. Seda Manila Bay
7. The Flats Circuit
8. The Flats CITP
9. The Flats CBP
10. ALogis Binan 4 (named LTI Standard Factory Building in the original Plan)
11. Lepanto Redevelopment

The P6.8 billion will now be disbursed to 17 new identified projects namely:
1. ALogis Artico Binan
2. ALogis Naic 2
3. ALogis Porac Expansion
4. Industrial Park
5. Park Central Towers
6. West Gallery Place
7. East Gallery place
8. Park Triangle Residences
9. Veranda Tower 1
10. AT Abreeza Tower 1
11. AT Verge Tower 1
12. Laguna Development
13. Cavite Development
14. Laguna Development
15. Land Acquisition
16. Land Acquisition
17. Land Acquisition

Exact Name of REIT as Specified in its Charter	AREIT, Inc,
Address of Principal Office	28/F Tower One and Exchange Plaza, Ayala Ave. Makati City
SEC Identification Number	CS200613870
BIR Identification Number	006-346-689
Name of REIT Corporation:	AREIT, Inc.
Reinvestment Plan Period:	Jul 24, 2020

A. Income-Generating Properties Transferred by the Sponsors/Promoters to the REIT
Name of Sponsor/Promoter	Description of Property Transferred	Certificate of Title of Property	Transfer Value of the Property to the REIT
N/A	-	-	-

B. Estimated Amount of Proceeds/Money to be Realized by the Sponsors/Promoters
*I. From the Subsequent Sale of REIT shares or other securities issued in exchange for income-generating real estate transferred by the Sponsors/Promoters to the REIT*
Name of Sponsor/Promoter	Estimated Amount of Proceeds
Ayala Land, Inc.	12,805,000,000

*II. From the Sale of income-generating real estate to the REIT*
Name of Sponsor/Promoter	Estimated Amount of Proceeds
N.A	-

C. The Reinvestment Projects
*Description of the Real Properties/Infrastructure Projects subject of the Reinvestment Policy*
Description of the Real Properties/ Infrastructure Projects	Location	Estimated Timing of Disbursement of the Money/ Proceeds for Reinvestment	Percentage of Completion as of the Date of the Reinvestment Plan	Type of Investment (Direct ownership, shareholding, etc.)
One Ayala BPO and Mall	Makati City	3Q 2020 to 3Q 2021	68% and 81%	100% owned
Trinoma Common Station Connections	Quezon City	1Q 2021 to 3Q 2021	73%	73% owned
Ayala Malls Vermosa	Cavite	4Q 2020 to 3Q 2021	65%	100% owned
Glorietta and Greenbelt refresh	Makati City	3Q 2021	86% and 39%	100% owned
Ayala Triangle Gardens Tower 2	Makati City	1Q 2021 to 3Q 2021	99%	100% owned
Arca South Office	Taguig City	4Q 2020 to 3Q 2021	47%	100% owned
Seda One Ayala	Makati City	3Q 2021	24%	100% owned
Seda Manila Bay	Manila	3Q 2020 to 3Q 2021	90%	100% owned
Mandarin Oriental	Makati City	3Q 2020 to 3Q 2021	64%	100% owned
The Flats Circuit	Makati City	3Q 2021	95%	100% owned
The Flats Cebu IT Park	Cebu	3Q 2020 to 3Q 2021	37%	76% owned
The Flats Cebu Business Park	Cebu	3Q 2021	23%	76% owned
ALogis Binan 4	Laguna	3Q 2021	100%	72% owned
ALogis Artico Binan	Laguna	3Q 2021	100%	72% owned
ALogis Naic 2	Cavite	3Q 2021	35%	72% owned
ALogis Porac Expansion	Pampanga	3Q 2021	100%	72% owned
Lepanto Redevelopment	Laguna	3Q 2021	25%	72% owned
Industrial Park	TBD	3Q 2021	N/A	72% owned
Park Central Towers (North and South)	Makati City	3Q 2021	29% and 52%	50% owned
West Gallery Place	Taguig City	3Q 2021	73%	50% owned
East Gallery Place	Taguig City	3Q 2021	99%	50% owned
Park Triangle Residences	Taguig City	3Q 2021	73%	50% owned
Veranda Tower 1	Taguig City	3Q 2021	100%	100% owned
AT Abreeza Tower 1	Davao	3Q 2021	42%	67% owned
AT Verge Tower 1	Mandaluyong City	3Q 2021	39%	100% owned
Laguna Development	Laguna	3Q 2021	82%	50% owned
Cavite Development	Cavite	3Q 2021	77%	100% owned
Laguna Development	Laguna	3Q 2021	N/A	100% owned
Land Acquisition	Cavite- Pampanga	3Q 2021	N/A	100% owned
Land Acquisition	Quezon City - Pasig City	3Q 2021	N/A	100% owned
Land Acquisition	Batangas-Bulacan	3Q 2021	N/A	100% owned

Other Relevant Information
On July 24, 2020, Ayala Land submitted its Reinvestment Plan of even date covering a total of P12,800 million worth of proceeds from the sale of secondary offer shares (net of the costs for the stabilization activities) and sale of Teleperformance Cebu. From July 24, 2020 to end of the first quarter of 2021, Ayala Land has disbursed proceeds to various investments in accordance with its Reinvestment Plan. There are no changes to the reinvestment period which is one year from the date of receipt of proceeds from the sale of AREIT shares during the initial public offering on August 13, 2020, and date of receipt of proceeds from the sale of Teleperformance Cebu to AREIT, September 24, 2020 and October 7, 2020 for the initial and final payments, respectively The disclosure is being amended to include the list of projects on the PSE template and a brief summary of the changes from the original reinvestment plan.

Other Relevant Information

On July 24, 2020, Ayala Land submitted its Reinvestment Plan of even date covering a total of P12,800 million worth of proceeds from the sale of secondary offer shares (net of the costs for the stabilization activities) and sale of Teleperformance Cebu. From July 24, 2020 to end of the first quarter of 2021, Ayala Land has disbursed proceeds to various investments in accordance with its Reinvestment Plan.

There are no changes to the reinvestment period which is one year from the date of receipt of proceeds from the sale of AREIT shares during the initial public offering on August 13, 2020, and date of receipt of proceeds from the sale of Teleperformance Cebu to AREIT, September 24, 2020 and October 7, 2020 for the initial and final payments, respectively

The disclosure is being amended to include the list of projects on the PSE template and a brief summary of the changes from the original reinvestment plan.

Filed on behalf by:

Name	Michael Blase Aquilizan
Designation	Manager

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17 OF THE SECURITIES REGULATION CODE AND SRC RULE 17.2(c) THEREUNDER

Ayala Land, Inc.ALI

PSE Disclosure Form REIT-1 - Reinvestment Plan References: Rule 4 of the IRR of the REIT Act of 2009 and Sections 4 and 8 of the Amended PSE Listing Rules for REITS

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

PSE Disclosure Form REIT-1 - Reinvestment Plan
References: Rule 4 of the IRR of the REIT Act of 2009 and
Sections 4 and 8 of the Amended PSE Listing Rules for REITS